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PART II Private Rights Property Interests and Liens

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PART II Private Rights Property Interests and Liens MINNESOTA STATUTES 1945 3525 ESTATES IN REAL PROPERTY 500.05 PART II Private Rights Property Interests and Liens CHAPTER 500 ESTATES IN REAL. PROPERTY Sec. 500.01 Division as to quantity 500.14 Future estates; construction, validity, and 500.02 Estates of inheritance effect of creating Instruments 500.03 Effect of conveyance to grantee in fee tail 500.15 Future estates; protection from destructibility 500.04 Conveyance by owner of fee tail estate rules 500.05 Division of realty or personalty 500.16 Alienability and descendibility of expectant 500.06 Division, as to time estates including reversionary possibilities 500.07 Estates in possession 500.17 Future estates; rents and profits 500.08 Estates in expectancy 500.18 Commencement of expectant estates 500.09 Reversions 500.19 Division 500.10 Future estate; statutory remainders 500.20 Defeasible estates 500.11 Future estates; inclusiveness 500.21 Application to ground lease 500.12 Future estates; vested or contingent 500.22 Restrictions on acquisition of title 500.13 Future estates;, restrictions on creation 500.01 DIVISION AS TO QUANTITY. Estates in lands are divided into estates of inheritance, estates for life, estates for years, and estates at will and by suffer­ ance. [R. L. 8. 3191] (80S2) 500.02 ESTATES OF INHERITANCE. Every estate of inheritance shall con­ tinue to be termed a fee simple, or fee; and every such estate, when not defeasible or conditional, shall be a fee simple absolute or an absolute fee. IR. L. s. 3192] (803S) 500.03 EFFECT OF CONVEYANCE TO GRANTEE IN FEE TAIL. In all cases where any person, if this chapter had not been passed, would at any time hereafter become seized in fee tail of any lands, tenements, or hereditaments by virtue of any devise, gift, grant, or other conveyance heretofore made, or hereafter to be made, or by any other means, such person, instead of becoming seized thereof in fee tail, shall be deemed and adjudged to be seized thereof as in fee simple. [R. L. S. 3193] (8034) 500.04 CONVEYANCE BY OWNER OF FEE TAIL ESTATE. Where lands, tenements, or hereditaments heretofore have been devised, granted, or otherwise conveyed by a tenant in tail, and the person to whom such devise, grant, or other conveyance has been made, his heirs or assigns, have from the time such devise took effect, or from the time such grant or conveyance was made, to the day of passing this chapter, been in the uninterrupted possession of such lands, tenements, or hereditaments, and claiming and holding the same under or by virtue of such devise, grant, or other conveyance, they shall be deemed as good and legal to all intents and purposes as if such tenant in tail had, at the time of making such devise, grant, or other conveyance, been seized in fee simple of such lands, tenements, or heredita­ ments, any law to the contrary notwithstanding. LR. L. s. 31941 (8035) 500.05 DIVISION OF REALTY OR PERSONALTY. Estates of inheritance and for life shall be denominated estates of freehold; estates for years shall be denominated chattels real; and estates at will or by sufferance shall be chattel interests, but shall not be liable as such to sale on execution. An estate for the life of a third person, whether limited to heirs or otherwise, shall be deemed a freehold only during the life of the grantee or devisee, but after his death it shall be deemed a chattel real. IR. L. ss. 8195, 31961 (8036, 8037) MINNESOTA STATUTES 1945 500.06 ESTATES IN REAL PROPERTY 3526 500.06 DIVISION AS TO TIME. Estates, as respects the time of their enjoy­ ment, are divided into estates in possession and estates in expectancy. [B. L. s. 3197] (8038) ' 500.07 ESTATES IN POSSESSION. An estate in possession is where the owner has an immediate right to the possession of the land; an estate in expectancy is where the right to the possession is postponed to a future period. [B. L. s. 3197] (8038) 500.08 ESTATES IN EXPECTANCY. Estates in expectancy are divided into, (1) reversions, and (2) estates commencing at a future day, denominated future estates. All expectant estates, except such as are enumerated and defined in this chapter, are abolished. IB. L. ss. 3198, 3231] (8039, 8072) 500.09 REVERSIONS. A reversion is- the residue of an estate left in the grantor, or his heirs, or in the heirs of a testator, commencing in possession on the determination of a particular estate granted or devised. [72. L. S. 3201] (8042) 500.10 FUTURE ESTATE; STATUTORY REMAINDERS. A future estate is an estate limited to commence in possession at a future day, either without the intervention of a precedent estate, or on the determination, by lapse of time or other­ wise, of a precedent estate created at the same time. IB. L. s. 3199] (8040) . ' 500.11 FUTURE ESTATES; INCLUSIVENESS. Subdivision 1. Common law remainders. When a future estate is dependent upon a precedent estate, it may be termed a remainder, and may be Created and transferred by that name. When a remainder on an estate for life or for years is not limited on a contin­ gency defeating or avoiding such precedent estate, it shall be construed as intended to take effect only on the death of the first taker, or at the expiration, by lapse.of time, of such term of years. Subdivision 2. Conditional limitations; shifting interests. A remainder may be limited on a contingency which, in case it should happen, will operate to abridge or determine the precedent estate; and every such remainder shall be construed a conditional limitation, and have the same effect as such limitation would have by law. Subdivision 3. Springing interests. Subject to the rules established in this chapter, a freehold estate, as well as a chattel real, may be created to commence at a future day; an estate for life may be created in a term of years, and a remainder limited thereon. LB. L. ss. 3200, 3213, 3216, 3218] (8041, 8054, 8057, 8059) 500.12 FUTURE ESTATES; CONTINGENT. Future estates are either vested or contingent. They are contingent while the person to whom, or the event upon which, they are limited to take effect remains uncertain. IB. L. s. 3202; 1943 c. 69 s. 1] (8043) 500.13 FUTURE IESTATES; RESTRICTIONS ON CREATION. Subdivision 1. Effect of suspension of power of alienation. Every future estate is void in its creation, which suspends the absolute power of alienation for a longer period than is prescribed in this chapter; such power of alienation is suspended when there are no persons in being by whom an absolute fee in possession can be conveyed. Subdivision 2. Limit of suspension; exception. The absolute power of aliena­ tion shall not be suspended, by any limitation or condition, for a longer period than during the' continuance of two lives in being at the creation of the estate, except that a contingent remainder in fee may be created on a prior remainder in fee, to take effect in the event that the persons to whom the first remainder is limited die under the age of 21 years, or upon any other contingency by which the estate of such persons may be determined before they attain their full age. Subdivision 3. Allowable successive life estates. Successive estates for life shall not be limited unless to persons in being at the creation thereof; and, when a remainder is limited on more than two successive estates for life, all the life estates subsequent to those of the two persons first entitled thereto shall be void; and upon the death of those persons the remainder shall take effect in the same manner as if no other life estate had been created. Subdivision 4. Remainder following estate pur autre vie. No remainder shall be created upon an estate for the life of any other person than the grantee or MINNESOTA STATUTES 1945 3527 ESTATES IN REAL PROPERTY 500.15 devisee of such estate, unless such remainder is in fee; nor shall any remainder be created upon such estate in a term for years, unless it is for the whole residue of the term. When a remainder is created upon any such life estate, and more than two persons are named as the persons during whose lives the estate shall continue, the remainder shall take effect upon the death of the two persons first named, in the same manner as if no other lives had been introduced. Subdivision 5. Contingent remainder following a term. A contingent remainder shall not be created on a term of years, unless the nature of the contingency upon which it is limited is such that the remainder must vest in interest during the continuance of not more than two lives in being at the creation of such remainder, or upon the termination thereof. Subdivision 6. Remainder for life following a term. No estate for life shall be limited as a remainder on a term of years, except to a person in being at the creation of such estate. Subdivision 7. Application of restrictions to chattels real. All of the provisions in this chapter contained relative to future estates shall be construed to apply to limitations of chattels real as well as freehold estates, so that the absolute ownership of a term of years shall not be suspended for a longer period than the absolute power of alienation can be suspended in respect to a fee. LR. L. ss. 3203, 3204, 3205, 3206, 3207, 3208, 3209, 3210, 32121 (8044, 8045, 8046, 8047, 80^8, 8049, 8050, 8051, 8053) 500.14 FUTURE ESTATES; CONSTRUCTION, VALIDITY, AND EFFECT OF CREATING INSTRUMENTS.
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